Cambridge Investment Research Advisors Inc. raised its position in shares of Quest Diagnostics (NYSE:DGX) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,652 shares of the medical research company’s stock after purchasing an additional 1,531 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Quest Diagnostics were worth $3,777,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wagner Wealth Management LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $106,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $118,000. Cerebellum GP LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $128,000. Assetmark Inc. increased its holdings in shares of Quest Diagnostics by 139.5% during the 4th quarter. Assetmark Inc. now owns 1,473 shares of the medical research company’s stock valued at $145,000 after acquiring an additional 858 shares during the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $147,000. 88.28% of the stock is owned by institutional investors.
In other news, SVP Jon R. Cohen sold 83,669 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $104.20, for a total transaction of $8,718,309.80. Following the sale, the senior vice president now owns 115,426 shares of the company’s stock, valued at approximately $12,027,389.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Catherine T. Doherty sold 5,556 shares of Quest Diagnostics stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $101.00, for a total value of $561,156.00. Following the sale, the senior vice president now directly owns 78,890 shares in the company, valued at approximately $7,967,890. The disclosure for this sale can be found here. Insiders sold a total of 100,013 shares of company stock worth $10,385,983 in the last ninety days. Insiders own 1.79% of the company’s stock.
DGX has been the topic of a number of analyst reports. Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Canaccord Genuity increased their price objective on Quest Diagnostics from $113.00 to $115.00 and gave the company a “buy” rating in a report on Monday, March 19th. Credit Suisse Group raised Quest Diagnostics from a “neutral” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Tuesday, February 13th. Goldman Sachs Group initiated coverage on Quest Diagnostics in a report on Monday, January 29th. They set a “buy” rating and a $117.00 price objective on the stock. Finally, Morgan Stanley raised Quest Diagnostics from an “underweight” rating to an “equal weight” rating and set a $103.00 price objective on the stock in a report on Wednesday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Quest Diagnostics has an average rating of “Hold” and an average target price of $108.44.
DGX opened at $101.22 on Thursday. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 2.03 and a beta of 0.71. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.73. Quest Diagnostics has a 12-month low of $90.10 and a 12-month high of $112.96.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, April 19th. The medical research company reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.89 billion. Quest Diagnostics had a return on equity of 15.44% and a net margin of 10.19%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. research analysts expect that Quest Diagnostics will post 6.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 23rd. Shareholders of record on Monday, July 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, July 6th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.04%.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.